Heal oil in a large heavy-bottom pot over medium-high heat. Add onion, garlic and peppers. Cook for 8 minutes, or until tender, stirring occasionally.
Add salt, black pepper, thyme, red pepper flakes and turmeric. Stir in broth, 1 cup water and the peas. Bring to a simmer and add shrimp. Simmer, covered, for 2 minutes or until the shrimp is cooked through.
Remove from heat; stir in couscous. Cover and let stand 5 minutes. To serve, fluff with fork and garnish with olives.